Yes—getting pre-approved is a very important first step in the homebuying process. It helps you understand what you can comfortably afford. A lender doesn’t just look at the loan amount—they also factor in property taxes, homeowner’s insurance, and any applicable HOA dues when determining your full monthly payment.

Pre-approval also strengthens your offer. Sellers want to know you’re a serious buyer who won’t back out of a contract due to financing issues. During this process, your lender will review your income and asset documentation, which helps avoid any surprises later on. Income can be calculated in several ways depending on loan guidelines—so it’s better to have that clarity upfront.